Trust in the sharing economy

Trust, Sharing Economy and Behavioral Economics

Trust. It’s a complex, tricky, hard to explain, harder to define concept, but it’s crucial for so many things. As Adam Smith pointed out, a base level of trust in society is necessary for specialization and the economic growth that accompanies it. If we didn’t trust the butcher to give us quality meat without having to inspect the cow every time — or worse yet, if we needed to litigate after every grocery run — the whole system would come to a screeching halt. ….[READ]